Ocean Power Technologies, which is developing a technology to generate electricity from ocean waves, priced its 5 million shares at $20 per share, the low end of its anticipated $20 to $22 range, on Tuesday evening. The company was already publicly traded on the London Stock Exchange AIM, but this was the initial U.S. public offering. UBS, Banc of America, and Bear Stearns were the underwriters on the deal. The stock is expected to begin trading on the NASDAQ under the ticker "OPTT" on Wednesday.
